Cryptocurrency is an experimental and decentralized digital monetary system developed independently from central banks. The term is commonly abbreviated “crypto” or “cryptocurrency”. The system works using a public ledger to track ownership of digital units. The system was proposed by the person or group of people commonly known as Satoshi Nakamoto in 2008 as a more secure and electronic form of currency.
We are currently at the dawn of a new age where access to technology through the Internet and mobile phones will be a fundamental part of daily life. It is only a matter of time before all of us have the means to conduct business online, or even with each other, or at least to access the essential services that enable us to do so. Now, let’s see Top 10 Crypto Products to Explore in 2022.
Top 10 Crypto Products to Explore in 2022?
1. Bitcoin (Market Cap: Over $882 Billion)
Bitcoin is the first digital currency that uses peer to peer networking to transfer value from one peer to another. The currency is defined by a sequence of cryptographic hashes of previous transactions, secured by a distributed system of miners maintaining a ledger called the blockchain.
As of January 8, 2022, a single bitcoin price was more than $42,000.
2. Ethereum (Market Cap: Over $447 Billion)
Etherum is a digital cryptocurrency created in 2015 that uses cryptography to secure and verify transactions. It is a decentralized platform that runs smart contracts and enables decentralized applications (dApps). It was designed as a more secure and efficient alternative to current blockchain systems.
Ethereum is a distributed computing platform and a cryptocurrency developed by Vitalik Buterin, a Canadian-Russian programmer and a team of contributors, relying on cryptographic proof instead of trust to provide a secure mechanism for trading transactions and other interactions.
Ethereum is a proof of concept for cryptocurrencies, which aims to create a decentralized public blockchain that is secure, with no single point of failure.
Its price went from $11 to $3,000.
3. Binance Coin (Market Cap: Over $86 Billion)
Binance Coin (BNB) is a cryptocurrency token based on the Ethereum blockchain. This is a digital token issued on the Ethereum blockchain, which serves as a means of payment for trades in the digital currency exchange and brokerage platform Binance.
It (BNB) is a token issued on a Binance exchange used as a means of payment within the Binance ecosystem.
As of January 3, 2022, Binance single coin is worth $420.20
4. Tether (USDT) (Market Cap: Over $78 Billion)
Tether (USDT) tokens are issued by Tether Limited, a company incorporated in the British Virgin Islands located at 20-21 Rennie Street, in the British territory of St. Maarten. This city is part of the Netherlands.
Tether (“USDT” or “U.S. Dollar Tether”) is a cryptocurrency token linked to a U.S. Dollar on the blockchain through a 1:1 peg. It is a USD-backed cryptocurrency.
It is a Digital Currency based on Ethereum Blockchain.
5. Solana (SOL) (Market Cap: Over $52 Billion)
Solana is a fork of the Ethereum platform, and its objective is to create a decentralized social network. It utilizes a different consensus algorithm to process its block generation process. Solana has gained a lot of popularity in the cryptocurrency community.
Solana is an investment platform that makes cryptocurrency accessible to the majority. It is a cryptocurrency intended to be accessible and affordable by anyone, anywhere globally. There are no transaction fees and no centralized authority. The project is built on the Ethereum blockchain, which allows it to be distributed and decentralized.
6. Cardano (ADA)(Market Cap: Over $44 Billion)
Cardano is one of the most promising new projects in cryptocurrency, an improvement on blockchain technology. This project has gained a lot of attention in the community because of its innovative approach to developing the platform.
Cardano is a cryptocurrency that is designed to rival Bitcoin. Cardano was created in 2015 by Charles Hoskinson and Jeremy Wood, who met at their university, IOHK, where they worked on IOHK’s Ethereum project (which is now called Ethereum).
It (ADA) is a cryptocurrency created on August 1, 2017. While most cryptocurrencies, such as bitcoin, are deflationary, Cardano uses a different consensus algorithm. It is based on the idea of the Ouroboros protocol, which can be described as a chain with no end.
7. U.S. Dollar Coin (USDC) (Market Cap: Over $42 Billion)
The primary purpose of this token is to create an asset that can easily be converted into dollars.
The U.S. Dollar Coin was developed by Circle and is a cryptocurrency with a similar interface to the U.S. Dollar. The only difference is that the U.S. Dollar Coin is backed by the U.S. Dollar so that it can have the same value as the U.S.
It is designed to be “fiat-like” because it will be pegged to the U.S. Dollar and will not be influenced by Bitcoin price fluctuations. The USDC is one of the most promising cryptocurrencies, and unlike other cryptocurrencies, it is the only stable coin that fluctuates in value. USDC has its blockchain, built for the U.S. dollar.
8. XRP (XRP) (Market Cap: Over $39 Billion)
XRP is a cryptocurrency based on a cryptographic protocol that allows instant payments to be sent directly from one party to another without going through financial institutions. It offers several unique properties, such as near-instant transaction confirmation, zero fees, and very high transaction volumes.
It is an international digital currency that runs on distributed ledger technology, and ripple has developed and is currently traded on the Ripple platform. XRP is a “fiat-like” cryptocurrency, meaning that it is pegged to the U.S. Dollar.
9. Terra (LUNA) (Market Cap: Over $33 Billion)
LUNA is a new cryptocurrency developed for education and social purposes. It has a large team behind it, which is an essential factor since it is hard to know if you will be successful. LUNA has a plan to help solve the problems of financial inclusion.
Terra (LUNA) is a multi-chain protocol for digital currency. It operates on the blockchain (a public ledger of all interactions) and the peer-to-peer (P2P) network based on the proof-of-stake algorithm. It is a decentralized application for P2P services, where members can trade, share, and exchange any value they wish (from money to skills, assets to time, energy to knowledge, etc.).
10. Polkadot (DOT) (Market Cap: Over $29 Billion)
Polkadot (an on-chain platform to interact with smart contracts) is a blockchain protocol that will bring together the different blockchains (mainly Ethereum). It is designed for scalability.
The Polkadot project is an initiative from the Ethereum Foundation to create a decentralized web using blockchain technology. In essence, the Polkadot project seeks to bring together the best ideas from Ethereum and other Ethereum clones and combine them into a single cohesive network. It uses an “inter-chain” protocol (a method of transferring tokens or value from one blockchain to another) which is a system that allows tokens from one blockchain to be transferred over to a different blockchain.
At first, DOT was a project created by the Ethereum Foundation to develop the most effective layer two networks to run smart contracts. It was designed to help Ethereum grow and create a long-term, self-sustaining network that could eventually replace Ethereum’s EVM. The team behind the project are working on getting many different parts of the system in place, and they are working on the network’s first set of applications.
It is a proposed Proof-of-Stake blockchain network. It aims to solve the scalability problems with other proof-of-stake chains, such as the Ethereum hard fork and Emerging cryptocurrencies like, ModiCoin, is making it even safer for investors.